Silver Price Rises To Rs. 610/10 Gram In India: Check Rates In Different Cities To Invest

Silver and gold are the two most important precious metals in the Indian markets, considering investment options and for the jewellery markets. However, unlike gold, silver has its utilities significantly in the industrial sectors. The metal is used for conductivity purposes in dated electronic devices. Demands for silver are gradually increasing in India, as the industrial sectors are thriving and demands are improving. In different cities, silver is priced differently.

City	Silver rate
Mumbai	Rs. 663
Bangalore	Rs. 663
Hyderabad	Rs. 663
Kolkata	Rs. 610
Chennai	Rs. 610
Delhi	Rs. 610
Ahmedabad	Rs. 610

The demand and supply quotient is the major deciding factor behind silver rates in the Indian domestic markets. With higher demands, silver prices will go up, and with lower demands, the prices will fall. Along with it, the international prices of silver influence the rates in the country. Silver rates in India are much cheaper because of its availability. In the Mumbai futures markets, in MCX, while gold is traded for 10 gram each unit, and silver is traded for 1 kg each unit.

Mexico and Peru are two largest producers of silver, while the US, India, Canada, Mexico, UK, France, Germany, Italy and Japan are the major consumers of silver.